SYNGENTA Group’s plan for an initial public offering (IPO) on the Shanghai Stock Exchange appears to be back on track after the bourse resumed a review of the application. The Shanghai exchange Tuesday updated the status of Syngenta’s IPO plan on its website. Earlier, it had posted a notice, dated Sept. 30, that proceedings had been halted pending an update to information about its earnings. Syngenta said in July that it was targeting proceeds of 65 billion yuan (US$10 billion) in a listing that could be the world’s largest this year. The company plans to sell as many as 2.79 billion new shares in the IPO, equivalent to a 20 percent stake. Syngenta has provided the Shanghai exchange with the requested earnings documentation, a person familiar with the transaction said Monday. Financial reports contained in a company’s IPO prospectus are valid up to six months, according to China’s securities regulator. Syngenta’s application featured financial information up to March-end, meaning it was outdated after Sept. 30. The Switzerland-based seeds and crop protection giant was bought in 2017 for US$43 billion by ChemChina, which was folded into Sinochem Holdings Corp. this year. (SD-Agencies) | 